Lower investments should not be a reason for slowing down reforms, IMF representative

The world financial crisis and its consequences influenced foreign companies' decisions to take risks and lend money or enter new markets. Besides foreign factors, there are internal factors that prevent the large investors from coming to Moldova. Related statements were made by the International Monetary Fund's Permanent Representative to Moldova Tokhir Mirzoev in an interview for Radio Moldova, Info-Prim Neo reports. “Despite the Government's efforts to improve the regulations governing the entrepreneurial activity, Moldova lags behind other countries of the region. There are infrastructure-related problems. The political instability also has its say. It is not right to expect that large groups of investors will come to Moldova only one year after the implementation of reforms. The fact that the volume of investments is lower than the projected one should not be a reason for slowing down the reforms. If the pace is maintained, the investors will undoubtedly come,” said the IMF official. Tokhir Mirzoev stressed that the potential Western investors that come to Chisinau inquire first of all about the macroeconomic situation in the country and the IMF's view on the economic policies promoted by Moldova. “I tell them that Moldova is developing, that the Government has an ambitions and promising program of reforms and that there are many investment opportunities in Moldova,” he stated. “The reforms have not been yet completed, but the experienced investors know that it is better to enter a market when changes take place as they can get engaged and contribute to these changes.” According to the Ministry of Economy, the foreign direct investment in Moldova in January-September last year totaled US$153 million, up 1.5 times compared with 2009.